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South Bend Redevelopment Commission <br />Regular Meeting -October 2, 2006 <br />6. NEW BUSINESS (CONT.) <br />D. Sample-Ewing Development Area <br />() continued... <br />Laurent responded that Mr. Toubas has <br />discussed with us purchase of property in the <br />Oliver site and the Studebaker site. <br />However, we don't know what his business <br />plans are. <br />Mr. Peterson noted that this right of refusal <br />would not apply if the City wanted to convey <br />the property to another City entity. This right <br />only applies to this parcel which, when <br />replatted and subdivided, will be a northwest <br />parcel. It's not the entire parcel, but rather, is <br />the most visible corner. If the City doesn't <br />subdivide the property within the time set in <br />the Purchase Agreement, the right of first <br />refusal will expire. Only if the City <br />determines to subdivide the entire site and <br />offer a portion of the property to the public <br />does the right of first refusal granted to ARG <br />Corporation come into play. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved the Contract of <br />Purchase and Sale with ARG Corporation for <br />property at 400 W. Sample Street in the <br />Sample-Ewing Development Area. (former <br />South Bend Lathe property) <br />E. Airport Economic Development Area <br />There was no business in the Airport Economic <br />Development Area. <br />COMMISSION APPROVED THE CONTRACT OF <br />PURCHASE AND SALE WITH ARG CORPORATION <br />FOR PROPERTY AT 4OO W. SAMPLE STREET IN <br />THE SAMPLE-SWING DEVELOPMENT AREA. <br />(FORMER SOUTH BEND LATHE PROPERTY) <br />6 <br />